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| T O P I C R E V I E W |
| andy b |
Posted - 24 May 2009 : 21:32:58
hi there,
not posted for ages as life marches on, have a question if anyone can help about being released early from br
i was made br on 12th jan and i had a letter the other day from the OR who said she will contact all my creditors and explain to them there is still no money available due to lack of disposible income etc
my question is what is the criteria for being released? is it a majority vote or does it depend on how much that person is owed?
regards,
andy |
| 4 L A T E S T R E P L I E S (Newest First) |
| Sparkle83 |
Posted - 25 May 2009 : 21:26:50
I think there is some part of an IVA that works like that... |
| andy b |
Posted - 25 May 2009 : 19:08:36
i see, i thought that the person with the greatest amount owed had a larger sway on the decision lets say than the lowest?
andy |
| Sparkle83 |
Posted - 25 May 2009 : 16:53:54
So must the declining creditor give a reason? If it is a private creditor, such as someone who used to be a friend, can they decline out of spite? |
| John |
Posted - 25 May 2009 : 07:12:38
Hi
the criteria are a) that the OR has established no assets, or that all asset value has been realised, and b) no current DI,no prospect of DI or an IPA is in place and c) not one of your creditors objects to your early discharge.
So no majority vote required as it needs to be unanimous and the sum owed to each creditor is immaterial.
John White
England Jackman & Spacey |
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